President Trump’s first few weeks in office have been busy on many fronts. However, for investors, his statements on trade policy maybe the most consequential.
JP Morgan's Chief Global Strategist Dr. David Kelly, CFA, explains the differences and similarities among a tariff, a value-added tax (VAT) and a cash-flow tax with border adjustments (BAT) and how they might apply to Mexico. He then examines the effects of each for the U.S. economy, consumers and investors.
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